Waste Management (NYSE:WM) PT Lowered to $224.00

Waste Management (NYSE:WM) had its target price reduced by research analysts at Oppenheimer from $229.00 to $224.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 13.12% from the stock’s previous close.

Several other equities analysts have also recently weighed in on WM. CIBC lowered their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus boosted their price target on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. TD Cowen lifted their price objective on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Raymond James boosted their target price on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Waste Management presently has an average rating of “Hold” and a consensus price target of $215.83.

Waste Management Trading Down 1.0 %

Shares of Waste Management stock traded down $1.90 during trading on Friday, reaching $198.02. 1,083,290 shares of the stock were exchanged, compared to its average volume of 1,696,157. The stock’s fifty day moving average is $209.78 and its 200 day moving average is $204.54. Waste Management has a 1 year low of $149.71 and a 1 year high of $225.00. The firm has a market cap of $79.42 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 40.19%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 EPS. As a group, equities research analysts expect that Waste Management will post 7.32 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ARS Wealth Advisors Group LLC grew its holdings in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after acquiring an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after buying an additional 49 shares in the last quarter. Mayflower Financial Advisors LLC grew its holdings in shares of Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after buying an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX grew its holdings in shares of Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after buying an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC grew its holdings in shares of Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after buying an additional 50 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.